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UtilizeCore Raises $5.3 Million To Transform Service Management

·3 min read

-UtilizeCore’s marketplace allows service management companies to procure, manage and pay contractors delivering repair/maintenance services to residential & commercial properties –

NEW YORK, Jun 15, 2021--(BUSINESS WIRE)--UtilizeCore, the first end-to-end automated platform to efficiently power service management, today announced the company has raised $5.3 million. This round was led by boldstart ventures with participation from S12F, Mantis VC and other strategic investors. UtilizeCore helps service management companies seamlessly manage all work streams through a single, consolidated platform.

The company was co-founded by Ryan Gottfriend, CEO; Jason Kwait, President; and Johnny Zhu, COO. UtilizeCore is the only Service Management Platform focused on IFM (Integrated Facility Management). There are more than 50,000 companies buying and selling on the UtilizeCore platform, and more than 2 million work orders have been processed. North of a billion dollars’ worth of managed services has flowed through UtilizeCore’s system.

"UtilizeCore is transforming service management, a function that is central to all commercial and residential building operations. Especially throughout the last year, we’ve seen how vital it is for buildings to run efficiently and without interruption," said Ryan Gottfried, CEO and Co-Founder at UtilizeCore. "Service management companies require modern tools and a unified platform in order to better serve their residential and commercial customers and track all subcontractor work streams. The market is overdue for an innovation to the service economy and we’re pleased to work with so many forward looking companies. With this new funding, we plan to further scale up to meet the accelerating demand for innovation in service management."

Some key features on the platform which help enable communication, transparency, quality control and invoicing include client and subcontractor logins; weather automated dispatch; service tracking; alert notifications; auto routing, auto pay and auto invoicing, messaging, service company ratings, real-time status updates, GPS functionality and 25 key integrations with accounting, payment and CRM systems to name a few.

"When we met UtilizeCore, we were blown away by the streamlined workflows allowing service management companies to activate their workforce easily, leading to rapid user adoption," said Eliot Durbin, General Partner, boldstart ventures. "The founders Ryan, Jason, and Johnny have incredible depth of understanding and empathy with their users, and we are excited to partner with them leading their first round. We believe that UtilizeCore has the potential to tremendously increase efficiencies in the $100B+ service management software market with a product-first approach."

"Service management has experienced relatively little innovation, but now, UtilizeCore is changing how services are consumed," said Rich Weber, Director of Information Technology Yellowstone Landscape. "We are thrilled to be able to connect with subcontractors in an automated, efficient and scalable way to bring our services to countless commercial property owners."

About UtilizeCore
UtilizeCore is the first end-to-end automated service supply chain platform for service management companies who need to remotely manage all workstreams when sourcing subcontractors and field technicians for commercial property maintenance and repair. The company is based in New York City and backed by boldstart ventures, S12F, Mantis VC and strategic investors that have held leadership roles at Uber, Github, Snowflake, Spotify, Superhuman, WorkMarket, Corrigo & ServiceChannel.

View source version on businesswire.com: https://www.businesswire.com/news/home/20210615005382/en/


Cari Sommer
RAISE Communications